07.18.22
FINRA Wants to Start Identifying 'Restricted' Firms on BrokerCheck
by: Tracey Longo
The Financial Industry Regulatory Authority (FINRA) has proposed disclosing a firm's “restricted” status on BrokerCheck, the public database that lists the regulatory histories of securities firms. The regulator is asking the U.S. Securities and Exchange Commission for approval to begin making the names of restricted firms public in the second cycle of such designations being made. Firms have already begun getting first-cycle notifications from FINRA that they “qualify” as restricted firms, although firms can appeal that decision.
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